Mulilo, a South African independent power producer mostly owned by CIP through its Growth Markets Fund I (CI GMF I), and EDF have been chosen as the top choice to build three battery energy storage projects.
The Department of Mineral Resources and Energy awarded five projects under South Africa’s first Battery Energy Storage Procurement Program.
The consortium brings global experience in battery energy storage systems and local market expertise.
This ensures that the Oasis Aggeneis, Oasis Mookodi, and Oasis Nieuwe Hoop facilities will provide cost-effective and efficient storage capacity to South Africa’s electricity grid.
The projects are expected to cost more than ZAR 7bn in total, with construction set to begin in mid-2024.
Once completed, the three projects will supply electricity to South Africa under 15-year power purchase agreements.
Read Also: TotalEnergies Launches Construction of Solar Plant in South Africa.
Stakeholders’ Commitment
While giving his remarks, Robert Helms, Partner CIP stated,
“Securing preferred bidder status for the majority of the procured capacity in South Africa’s first public battery storage tender together with EDF marks a significant step in the accelerated growth journey of Mulilo.
“We commend the South African government’s commitment to the buildout of battery energy storage, a key focus technology for Mulilo.
“With the announcement, we are proud for Mulilo to continue its positive contribution to the country’s energy security, socio-economic growth, and green transition.
Jan Oberholzer, Chairman of the Board, Mulilo further added, “This achievement is an important and significant milestone for Mulilo.
“I am very proud of the entire team that is currently outperforming our business plan.
“We look forward, together with our partners, to the successful execution of these projects.
“We remain committed to playing our important part, ensuring sustainable electricity supply for economic growth in our country.”
“This is vital for the betterment of the lives of the 61 million people we serve.”